According to a notice, the market regulator SEBI will use a new format for its annual report to include a “real and full account” of its operations, policies, and programmes within a fiscal year. The revenue and expenditure source will be included in the annual report under the new rules announced by the finance ministry instead of the current provision of publishing annual account statements individually.
According to the notification posted on the SEBI website on Tuesday, “The Board (SEBI) shall submit a report to the Central Government, providing an accurate and complete account of its operations, policies, and programmes during the previous fiscal year.” It also stated that the report must be submitted within 90 days of the end of a fiscal year.
The new format includes 13 chapters covering various topics such as stock markets, commodity derivatives markets, fund management operation (Mutual Funds, Infrastructure Investment Trusts, Collective Investment Schemes, Alternative Investment Funds, and Real Estate Investment Trusts), corporate governance, and organizational restructuring.
Also, there will be a chapter on the goals and priorities of new regulations and a progress or impact review of the new rules implemented during the recently ended fiscal year. According to the notification, SEBI must report details of merger and acquisition transactions, regulatory action taken to improve transparency and governance, transparent offers, and the issuance of observations on contract document in the corporate governance and corporate restructuring section.